Revenue of $337 million, up 7% over Q3’13 non-GAAP revenue and up
5% on a constant currency basis

Non-GAAP EPS of $0.53, up 19% year over year and up 14% year over
year on a constant currency basis

Non-GAAP operating margin of 24.2%, up 200 basis points year over
year and up 130 basis points year over year on a constant currency
basis

GAAP operating margin of 16.2% and GAAP EPS of $0.32

Q3 revenue contribution from acquired businesses Enigma (acquired
on July 11, 2013), NetIDEAS (acquired on September 5, 2013), and
ThingWorx (acquired on December 30, 2013) was $3 million

Q4 Guidance:

Revenue of $340 to $355 million and non-GAAP EPS of $0.59 to $0.63

License revenue of $95 to $110 million

GAAP EPS of $0.39 to $0.43 (excluding the pending Axeda
transaction and acquisition accounting for Atego)

Assumes $1.35 USD / EURO and 101 YEN / USD

FY’14 Guidance:

Revenue of $1,330 to $1,345 million and non-GAAP EPS of $2.10 to
$2.14

License revenue of $352 to $367 million

Non-GAAP operating margin of approximately 25%

GAAP EPS of $1.40 to $1.44 and GAAP operating margin of
approximately 17% (excluding the pending Axeda transaction and
acquisition accounting for Atego)

The Q3 non-GAAP results exclude $12.5 million of stock-based
compensation expense, $12.4 million of acquisition-related intangible
asset amortization, and $1.5 million of acquisition-related and pension
plan termination costs. The Q3 non-GAAP EPS results include a tax rate
of 19% and 120 million diluted shares outstanding.

Results Commentary

James Heppelmann, president and chief executive officer, commented, “PTC
delivered solid operating results, with Q3 revenue at the high end of
our guidance range and non-GAAP EPS above our guidance range. License
revenue of $93 million increased 15% year over year on a constant
currency basis. From a geographic perspective, on a constant currency
basis revenue in Japan was up 20%, Europe was up 7%, the Americas were
up 1%, and the Pacific Rim was flat.”

Heppelmann added, “We saw strong growth in our core CAD and PLM
businesses. CAD license revenue grew 26% year over year on a constant
currency basis driven by large deals, new seats, and sales of modules
and upgrades associated with our Creo® platform. Extended PLM
license revenue was up 7% year over year on a constant currency basis.
License revenue for our SLM business (which includes Enigma and
ThingWorx) was flat year over year on a constant currency basis. Our SLM
pipeline continues to build and we are optimistic about the growth
opportunity going forward. In addition, we continue to see bookings
growth in our ThingWorx business. We also believe that the acquisition
of Axeda, a leading provider of secure connectivity within the Internet
of Things (IoT) space, when completed, will further PTC’s leadership
position in the smart, connected products arena.”